Hope to claw some of the monthly cost back by renting out the old house (would rent for around £750-800pcm) but will really feel the pain of a 40% marginal income tax rate as/when that happens.
In the short term, this promotion will be cashflow negative to the tune of a few hundred pounds per month, but is already roughly neutral for net worth when including higher pension contributions and student loan repayment, and will turn cashflow positive if we can get the old house rented in, say, 2 months' time.
So in short, we've stood roughly still on finances this month.
There is plenty to be happy about though. The new neighbourhood feels much nicer than the old one - in particular we're close to parks and stuff, and the air quality is much better. We also have a bit more space - around 950 square feet - as a slight future proofing against our second baby which we're expecting in December (I don't think I even mentioned this before - it's the pessimist in me that wants to see a pregnancy 'stick' before I let myself get too excited). So yeah, life continues to treat our family well.
